Gibraltar Capital Management Inc. bought a new position in shares of Emerson Electric Co. (NYSE:EMR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,333 shares of the industrial products company's stock, valued at approximately $3,435,000.
A number of other institutional investors have also made changes to their positions in EMR. Stokes Family Office LLC raised its holdings in shares of Emerson Electric by 94.8% during the fourth quarter. Stokes Family Office LLC now owns 9,206 shares of the industrial products company's stock worth $1,141,000 after purchasing an additional 4,480 shares during the period. Clark Capital Management Group Inc. grew its position in shares of Emerson Electric by 7.7% during the fourth quarter. Clark Capital Management Group Inc. now owns 6,042 shares of the industrial products company's stock worth $749,000 after acquiring an additional 434 shares during the last quarter. World Investment Advisors grew its position in shares of Emerson Electric by 41.2% during the fourth quarter. World Investment Advisors now owns 20,823 shares of the industrial products company's stock worth $2,581,000 after acquiring an additional 6,079 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Emerson Electric by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,685,615 shares of the industrial products company's stock worth $1,443,725,000 after acquiring an additional 232,540 shares during the last quarter. Finally, StoneX Group Inc. grew its position in shares of Emerson Electric by 23.5% during the fourth quarter. StoneX Group Inc. now owns 32,927 shares of the industrial products company's stock worth $4,081,000 after acquiring an additional 6,264 shares during the last quarter. 74.30% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages recently issued reports on EMR. JPMorgan Chase & Co. increased their target price on shares of Emerson Electric from $113.00 to $133.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Royal Bank Of Canada upped their price target on shares of Emerson Electric from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wall Street Zen raised shares of Emerson Electric from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Barclays raised their target price on shares of Emerson Electric from $112.00 to $118.00 and gave the stock an "underweight" rating in a report on Monday, June 9th. Finally, Bank of America raised their target price on shares of Emerson Electric from $130.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $139.21.
Read Our Latest Research Report on Emerson Electric
Emerson Electric Price Performance
EMR stock traded down $1.36 during mid-day trading on Monday, hitting $138.40. The stock had a trading volume of 5,800,836 shares, compared to its average volume of 2,996,394. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 0.42. Emerson Electric Co. has a 52 week low of $90.06 and a 52 week high of $141.10. The firm has a market capitalization of $77.85 billion, a P/E ratio of 33.11, a P/E/G ratio of 2.71 and a beta of 1.29. The firm has a fifty day simple moving average of $121.74 and a 200 day simple moving average of $118.40.
Emerson Electric (NYSE:EMR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.07. The company had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.42 billion. Emerson Electric had a net margin of 13.60% and a return on equity of 13.22%. The firm's revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 EPS. As a group, research analysts forecast that Emerson Electric Co. will post 5.96 EPS for the current year.
Emerson Electric Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Friday, May 16th. Emerson Electric's payout ratio is 50.48%.
Insider Activity
In other news, CEO Surendralal Lanca Karsanbhai sold 16,698 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $113.33, for a total value of $1,892,384.34. Following the transaction, the chief executive officer owned 164,957 shares in the company, valued at approximately $18,694,576.81. The trade was a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company's stock.
Emerson Electric Company Profile
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Free Report)
Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.
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